HC Wainwright Lowers DRDGOLD (NYSE:DRD) Price Target to $16.25

DRDGOLD (NYSE:DRD) had its price objective cut by HC Wainwright from $17.25 to $16.25 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

DRDGOLD Trading Up 1.1 %

Shares of DRD stock opened at $10.53 on Wednesday. The company has a 50 day moving average price of $9.62 and a 200-day moving average price of $9.75. DRDGOLD has a 52 week low of $6.48 and a 52 week high of $12.70.

Hedge Funds Weigh In On DRDGOLD

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of DRDGOLD by 53.0% during the 4th quarter. GAMMA Investing LLC now owns 3,240 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 1,122 shares during the period. Ameriprise Financial Inc. grew its position in DRDGOLD by 10.0% during the fourth quarter. Ameriprise Financial Inc. now owns 15,779 shares of the basic materials company’s stock valued at $136,000 after buying an additional 1,438 shares during the period. Aquatic Capital Management LLC purchased a new stake in DRDGOLD during the fourth quarter valued at approximately $25,000. Bank of America Corp DE raised its position in DRDGOLD by 47.2% in the fourth quarter. Bank of America Corp DE now owns 16,732 shares of the basic materials company’s stock worth $144,000 after acquiring an additional 5,364 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of DRDGOLD by 9.2% during the 4th quarter. JPMorgan Chase & Co. now owns 101,764 shares of the basic materials company’s stock worth $878,000 after acquiring an additional 8,558 shares during the last quarter. 14.70% of the stock is currently owned by hedge funds and other institutional investors.

About DRDGOLD

DRDGOLD Limited, a gold mining company, engages in the surface gold tailings retreatment business in South Africa. It also involved in the exploration, extraction, processing, and smelting activities. The company recovers gold from surface tailings in the Witwatersrand basin in Gauteng province. DRDGOLD Limited was formerly known as Durban Roodepoort Deep Limited and changed its name to DRDGOLD Limited in 2004.